MONROVIA, Calif.--(BUSINESS WIRE)--
AeroVironment, Inc. (NASDAQ:AVAV) today announced the appointment of
Teresa Covington as chief financial officer, effective March 1, 2017.
Covington will succeed Raymond Cook, who is resigning as senior vice
president and chief financial officer, effective February 28, 2017 due
to medical reasons.
Wahid Nawabi, AeroVironment president and chief executive officer, said,
"The Board of Directors, our employees and I thank Raymond for his
service and appreciate his willingness to support Teresa during this
transition."
"Teresa has been a critical member of our leadership team since she
joined AeroVironment 5 years ago," Nawabi added. "She has 25 years of
financial leadership experience and exceptional industry knowledge,
including as interim CFO of AeroVironment. I am excited to work closely
with Teresa in her new role as we execute our business strategy to
continue driving long-term value for our shareholders, customers and
employees."
About Teresa Covington
Since joining AeroVironment in 2011, Teresa Covington has provided
financial leadership to AeroVironment and its EES business segment and
has served as a senior member of the company's finance team. Covington
served as the company's interim chief financial officer from February 5,
2015 to July 7, 2015. Covington's responsibilities included financial
analysis, planning, accounting, credit and collections as well as
launching and leading a new product line management organization.
Prior to joining AeroVironment, Covington served as senior vice
president and chief financial officer at Line 6, a global designer and
manufacturer of musical instruments now part of Yamaha. Covington earned
her master's in business administration from Stanford University
Graduate School of Business, a master's in electrical engineering from
the University of Southern California and a Bachelor of Science in
electrical engineering from the University of Illinois at
Urbana-Champaign.
About AeroVironment, Inc.
AeroVironment (NASDAQ: AVAV) provides customers with more actionable
intelligence so they can proceed with certainty. Based in California,
AeroVironment is a global leader in unmanned aircraft systems, tactical
missile systems and electric vehicle charging and test systems, and
serves militaries, government agencies, businesses and consumers. For
more information visit www.avinc.com.
Safe Harbor Statement
This press release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, any statement
that may predict, forecast, indicate or imply future results,
performance or achievements, and may contain words such as "believe,"
"anticipate," "expect," "estimate," "intend," "project," "plan," or
words or phrases with similar meaning. Forward-looking statements are
based on current expectations, forecasts and assumptions that involve
risks and uncertainties, including, but not limited to, economic,
competitive, governmental and technological factors outside of our
control, that may cause our business, strategy or actual results to
differ materially from the forward-looking statements. Factors that
could cause actual results to differ materially from the forward-looking
statements include, but are not limited to, reliance on sales to the
U.S. government; availability of U.S. government funding for defense
procurement and R&D programs; changes in the timing and/or amount of
government spending; risks related to our international business,
including compliance with export control laws; potential need for
changes in our long-term strategy in response to future developments;
unexpected technical and marketing difficulties inherent in major
research and product development efforts; changes in the supply and/or
demand and/or prices for our products and services; the activities of
competitors and increased competition; failure of the markets in which
we operate to grow; failure to remain a market innovator and create new
market opportunities; changes in significant operating expenses,
including components and raw materials; failure to develop new products;
the extensive regulatory requirements governing our contracts with the
U.S. government; product liability, infringement and other claims;
changes in the regulatory environment; and general economic and business
conditions in the United States and elsewhere in the world. For a
further list and description of such risks and uncertainties, see the
reports we file with the Securities and Exchange Commission. We do not
intend, and undertake no obligation, to update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20161220005525/en/
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
ir@avinc.com
Source: AeroVironment, Inc.
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